Actually I don't see a big problem with a reasonable bond. Every QF pilot signs on for one when they join. I've never bothered looking if there is a bond for aircraft change or promotion but there certainly is a 'freeze' once you check you.
I don't fault a bond in this case either. Five years is extreme and unwarranted. Perhaps they're hoping the response from the pilot group is 'keep the bond, we'll pay for the endorsement ourselves'.
